Real-Estate-Yogi.com is part of a family of sites that have been operating since 1999. Its intent was to provide articles, tips and other types of free help to people who need assistance from professionals in the real estate industry. Many home buyers face a great many problems during the process and we want to help them avoid frustration while we walk them through the research process.
PR-Inside.com: 2016-03-06 15:07:14
The following contains all the information a person could need about the government’s first home buying tax credit. This is the first time home buyer credit tutorial, compliments of Real-estate-yogi.com, the premier property-related information website. By the end of this missive, if one’s questions are not answered satisfactorily, visit the website to clear them up. The initial consultation is free, so it’s worth the time. Some of the topics that may be discussed include:
• The Worker, Home Ownership, and Business Assistance Act of 2009
• Eligibility Requirements
• Special Points to Pay Attention To
• Making a Claim for This Credit
The Worker, Home Ownership, & Business Assistance Act
The Worker, Home Ownership, & Business Assistance Act of 2009 was drafted to help increase the purchase of new houses. The government then offered an $8,000 tax credit to new home buyers. This was called the first time home buyer credit. The biggest benefit of this credit was that it did not have to be repaid unless or until the house was sold or no longer the primary residence of the buyer. Sales of houses shot sky high with the advent of this offer.
Requirements for Eligibility
As with any government program, there are eligibility requirements, the first of which is actually being a first-time home buyer. This is defined as a person who has not purchased a home during the three years prior to the purchase of his new residence. There are also limits on how much a single person or a couple can make before the tax credit is not available to them. Real-estate-yogi.com is available 24/7, all year long, and is happy to address any concerns or inquiries about the qualifications for the credit, including income limits. Click this for your free consultation with a real estate professional now goo.gl/F4ekYI
Particular Items to Know
One important fact a prospective home purchaser should know is that the first time home buyer credit is based upon the amount of the house. If one’s new house costs $100,000, his tax credit should be 10% of that amount. However, there’s a cap on how much the credit can be, and that is no more than $8,000. Another point of interest is that not every home qualifies for the credit. Any house that exceeds the $800,000 limit will not be eligible for the credit. Click this link for free step-by-step assistance for purchasing your first home: goo.gl/jeHOmb
Claiming One’s Tax Credit
Putting in a claim for the first time buyer’s tax credit is fairly straightforward. One must first obtain two forms: the HUD-1 settlement statement and the IRS Form 5405. Submit these forms to the IRS along with the regular tax information, and the credit is “in the mail.” Anything not clear here? Real-estate-yogi.com is just a phone call away to help clarify any confusion. 1-800-987-1397
Real-Estate-Yogi.com is part of a family of sites that have been operating since 1999. Due to the increase in requests for more and more real estate related services, Real-Estate-Yogi.com was implemented and is connected to a database of over 160,000 real estate, legal and financial professionals in 30,000 zip codes nationwide who will offer free initial consultations with just a click or a phone call. 1-800-987-1397, 24/7.
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